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Private forest investment and long-run sustainable harvest volumes.Author(s): Ralph J. Alig; Darius M. Adams; John T. Chmelik; Pete Bettinger
Source: New Forests. 17: 307-327
Publication Series: Scientific Journal (JRNL)
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DescriptionPrivate timberlands in the United States have the biological potential to provide larger quantities of timber on a sustainable basis than they do today. Most opportunities for increasing growth and harvest lie on nonindustrial private lands in the South. Past studies, based on fixed scenarios of future prices, also suggest that many of these opportunities for intensified management can be undertaken with positive economic returns. Translation of these physical and apparent economic potentials into projections of future management and harvest requires a model of private timber management investment behavior. This study examines the dynamics of investment in private forest management according to a model of timber markets and timber supply in which intertemporal levels of private investment, harvest, and timber prices are all endogenous. The results of this model are used to examine the extent and types of possible future private management investments and how these will affect timber supply. In addition, the sensitivity of these projections to variations in key market and behavioral determinants is examined through simulation of alternative scenarios involving reduced public timber harvest and constraints on planting investment of nonindustrial private owners.
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CitationAlig, Ralph J.; Adams, Darius M.; Chmelik, John T.; Bettinger, Pete. 1999. Private forest investment and long-run sustainable harvest volumes. New Forests. 17: 307-327
KeywordsNon-industrial forests, planted forests, projection models, timber markets, timber supply
- Alternative projections of the impacts of private investment on southern forests: a comparison of two large-scale forest sector models of the United States.
- Forest environmental investments and implications for climate change mitigation.
- Forest Productivity and Timber Supply Modeling in the South
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